Aditya Birla Sun Life AMC Limited (ABSLAMC) Stock - Complete Technical Analysis - Dec 16, 2024

"Aditya Birla Sun Life AMC Ltd (ABSLAMC) Stock Analysis: Key Support & Resistance Levels to Watch

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Aditya Birla Sun Life AMC Limited (ABSLAMC) exhibits strong potential for a bullish breakout. The stock has rebounded significantly from its 52-week low, trading 84.90% higher, and remains 8.70% below its 52-week high. The RSI signals a neutral sentiment, while ADX indicates moderate trend strength. MACD is bullish, suggesting possible upward momentum.

Key patterns, including a Morning Star and Bullish Engulfing, point toward a bullish reversal. Short-term support stands at 824, while resistance levels are seen around 838 and 845. The Fibonacci pivot highlights intermediate support at 800 and resistance at 890.

Moving averages strengthen the stock's position, with the 10-day EMA at 839.42 acting as resistance and the 200-day EMA at 680.65 underlining the long-term bullish trend. Indicators like Stochastic RSI suggest oversold conditions, hinting at an upward recovery soon.

For traders, a breakout above 845 could signal further upside toward resistance at 890 and 914, while failure to hold 824 may lead to support at 800. Watch for volume and momentum confirmation before taking action.